Andy Krieger - New Zealand Soros, who won $300m. from one deal

The fact is that all beginner Forex traders are looking to become super traders, with most of them starving for a big deal to change their lives and perpetuate their name on the forex market. But the intentions are one thing, and to achieve the desired goals is quite different, and inspiration from legendary traders such as Andy Krieger is a great opportunity to keep your motivation level.

Who is Andy Krieger?
After completing the Wharton School, Krieger started working for Salomon Brothers, and in 1986, joins to the Bankers' Trust. Not long after that, Andy proved to be the most aggressive and difficult trader in the world. The high reputation among bankers leads to the fact that Andy is allowed to make deals worth up to $700mln. By comparison, we will say that the maximum for the average trader at that time was $50mln.

Black Monday 1987
People who belong to the stock markets and those who aspire to become successful traders know about the fatal accident that happened on October 19, 1987, when the stock market collapsed. Dow Jones declined by 22%, and the following days led to a massive collapse in global stock markets, and most of them declined by 20% by the end of October.

Nevertheless, Andy did not care much about what was happening around him.

Following the stock market crash, Kriger is convinced that Kiwi is susceptible to attack, and the aggressiveness characteristic of him keeps dominating, and he decides to take advantage of the circumstances. Taking advantage of the bankers' confidence he had accumulated earlier in his career, he decided to use $ 40m. for a margin deal with Leverage 1: 400. Through the optional market, Andy predicts that Kiwi will collapse. In fact, the short position it is doing is so great that it exceeds the money supply of New Zealand.

The result
The deal has a catastrophic effect on the NZD, with the currency dropping 5% against the US dollar in just a few hours, and this difference is contributing to $ 300m. net profit for the Bankers' Trust. Of course, the reaction of RBNZ was not pleasant. The central bankers were outraged and fair, but Kriger responded to their indignation by saying something that only a man of that caliber could say. He clarified that "Bankers' Trust did not make a position that was of great importance to them. Instead, he said that New Zealand has nothing to do to deal with the operations of the company.

Shortly after the incident with the NZD, Krieger resigned from the Bankers' Trust and began to work for another business legend and guru George Soros. Some of the reasons why he resigns from the Bankers' Trust are also his disgust and anger as the company gives him only $ 3m. commission for $ 300m profit.

Jr Trader Petar Milanov

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